Household debt in different age cohorts: A multilevel study

Haq, Wajiha and Ismail, Noor Azina and Satar, Nurulhuda Mohd and Watson, Duncan (2018) Household debt in different age cohorts: A multilevel study. Cogent Economics & Finance, 6 (1). p. 1455406. ISSN 2332-2039

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Official URL: https://doi.org/10.1080/23322039.2018.1455406

Abstract

There is a need to identify household debt behaviour in different age cohorts even in countries without prominent household debt problems so that the measures for vulnerable groups can be made. Authors used multilevel mixed effect analysis to test the effect of age and other variables on demand of debt. A national representative survey data of HIES (2001–2013) based on stratified sampling design was used. Household debt in mature workers was higher than youth whereas debt of older people was not significantly different from other cohorts. Education and household size positively affect the demand for debt. This study contributed to existing literature by exploring the demand for debt in different age cohorts, taking into account other socio-economic variables. The design of debt products should be such that mature workers should not accumulate a high level of debt.

Item Type: Article
Uncontrolled Keywords: Age; household; debt; financial satisfaction; socioeconomic; education; assets; household size; survey; stratified
Subjects: H Social Sciences > HG Finance
H Social Sciences > HG Finance > Credit. Debt. Loans
Divisions: Faculty of Economics & Administration
Depositing User: Ms. Juhaida Abd Rahim
Date Deposited: 19 Aug 2019 02:06
Last Modified: 19 Aug 2019 02:06
URI: http://eprints.um.edu.my/id/eprint/21947

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